Steaker Founder Huang Weixuan Responds to Media Reports: Misinterpretation and Misleading Nature of the Indictment Content
In response to the recent report titled “Exclusive Decryption of the Steaker Indictment: Involving Quantity Trend Technology Loans, Mixed Asset Use, Why Do Prosecutors Determine Fundraising Money Laundering?” published by this platform, Chain News, Steaker founder Huang Weixuan publicly issued a statement in April, refuting many of the accusations and misinterpretations mentioned in the report, emphasizing that the report not only selectively quoted the prosecution’s content but also made biased interpretations without verification, causing significant impact on the Steaker team and its users.
Huang Weixuan stated: “Such reporting not only violates journalistic professionalism but may also mislead the public and damage the credibility of the judiciary and the media.”
One-sided Quotation of Prosecution Data, Conclusions Drawn Without Team Response
Huang Weixuan pointed out that the Chain News report frequently quoted content from the indictment but failed to verify its actual background and did not consult the Steaker team for opinions or responses, which resulted in the report being filled with subjective speculation and statements inconsistent with the facts. He questioned whether such reporting was truly due to negligence in verification or if it was a deliberate attempt to lead public opinion.
Corporate Loans and Asset Allocation Are Normal Operations, No Improper Behavior
The report mentioned Steaker’s involvement in corporate loans and even questioned its underlying intentions. In response, Huang Weixuan clarified that Steaker is essentially a digital asset management platform, operating similarly to traditional funds, employing a diversified allocation strategy to mitigate risks and enhance returns. Signing virtual asset loan agreements with corporate entities is a common practice in the industry.
He emphasized that all asset allocations undergo thorough risk control processes, with no illegal or anomalous circumstances.
Transfer of USDC Funds to AAVE Is Not Violative, Media Reports Are Severely Misleading
Regarding the report that Steaker transferred 360,000 USDC to the decentralized lending protocol AAVE and questioned its lack of transparency in information disclosure, Huang Weixuan pointed out that the actual indictment only recorded the flow of funds and did not accuse any illegal use or failure to inform investors. The media, however, added unrecorded content, misleading the public into believing this was a fact recognized by the prosecutors.
Huang Weixuan criticized: “Such fabricated reporting has severely damaged the credibility of the judiciary and the media, and it is extremely unfair to the Steaker team.”
Huang Weixuan: Fund Flows Are Transparent, Data Is Traceable, Asset Management Meets Industry Standards
In response to questions regarding Steaker’s fund flows and multi-wallet management, Huang Weixuan emphasized that all user deposits, withdrawals, holdings, and earnings are thoroughly documented, and operations are conducted after KYC verification, with no misappropriation of funds or arbitrary disbursements.
Regarding the company accounts and multi-wallet setup, he indicated that this is a common practice in the industry, aimed at risk isolation, cybersecurity control, and operational efficiency. Every fund adjustment is documented and has been explained and provided with data to the prosecutors multiple times; the complexity of funds does not imply impropriety.
Indictment Content Does Not Identify Fraud, Media Reports Are Inconsistent with Facts
The Chain News report mentioned that Steaker was suspected of “fraudulent fundraising,” citing Article 339-4 of the Criminal Code. However, Huang Weixuan emphasized that the actual indictment explicitly states, “There is no evidence to establish fraudulent intent in this case,” and even affirmatively states that investors who have redeemed their investments have received their principal and interest, thus not constituting aggravated fraud.
Regarding such misleading reporting, he expressed deep regret and pointed out that erroneous information not only affects public opinion but may also hinder Steaker’s efforts to recover funds from FTX, ultimately harming the rights and interests of investors.
The Claim of “Underground Fund Pool” Is Groundless, Questioning Media’s Unfair Position
Finally, the report likened Steaker to an “underground fund pool,” accusing it of packaging illegal fundraising under the guise of investment, borrowing, and shareholder structure. In this regard, Huang Weixuan strongly refuted, pointing out that the indictment never used such terminology, and if it were not for the prosecution’s stance, the media would have self-directed and added content, raising doubts about its motives being malicious.
Huang Weixuan Emphasizes Legal Defense of Reputation, Calls for Media to Return to Verification Duties
In the conclusion of the statement, Huang Weixuan stated that since Steaker’s establishment, it has faced numerous doubts and misunderstandings from the outside world, but the team has never shied away from responsibility and has fully cooperated with judicial proceedings. He called on the media to fulfill their verification duties and not become tools for leading public opinion; otherwise, he does not rule out pursuing legal action to protect the team’s reputation.
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